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11 RESOLUTION NO. 11-2006
RESOLUTION OF THE CITY OF CARMEL, INDIANA
REDEVELOPMENT COMMISSION PRELIMINARILY APPROVING
THE FORM OF A PROPOSED LEASE BETWEEN THE
REDEVELOPMENT COMMISSION AND THE CITY OF CARMEL
REDEVELOPMENT AUTHORITY FOR CERTAIN LAND AND PUBLIC
IMPROVEMENTS, APPROVING PRELIMINARY PLANS,
SPECIFICATIONS AND COST ESTIMATES, SETTING A PUBLIC
HEARING ON THE PROPOSED LEASE PURSUANT TO INDIANA
CODE 36-7-14-25.2, AND AUTHORIZING PUBLICATION OF NOTICE
OF THE PUBLIC HEARING
WHEREAS, the City of Carmel Redevelopment Authority (the "Authority") is expected
to adopt a resolution (the "Authority Resolution") indicating its intent to issue its. City of Carmel
Redevelopment Authority Lease Rental Revenue Bonds to finance the acquisition, construction,
installation and equipping of numerous road projects and other capital improvements in the City
of Carmel, Indiana (the "City"), more particularly described in Exhibit A attached hereto and
made a part hereof, together with expenses. incurred in connection therewith,, including the costs
of the issuance of bonds therefor, and other property acquisition, redevelopment and economic
development in or serving one or more economic development areas previously established in
the City pursuant to Indiana Code 36-7-14 (collectively, the "Project"); and
WHEREAS, the Authority Resolution will approve the form of a proposed lease between
the Authority and the City of Carmel Redevelopment Commission (the "Commission") for the
lease of the Project; and
f
WHEREAS, the preliminary plans, specifications and cost estimates for the Project have
been filed and reviewed and will be approved by the Authority; and
WHEREAS, the preliminary plans, specifications and cost estimates for the Project have
been filed with the Commission; and
WHEREAS, the Authority has filed the proposed lease with the. Commission, a copy of
which is attached hereto as Exhibit B; and
WHEREAS, the Commission desires to approve the proposed lease and publish.notice of
a public hearing and conduct a public hearing on the proposed lease pursuant to Indiana Code
36-7-14-25.2; and
WHEREAS, after the public hearing, the Commission may adopt a resolution, pursuant
to Indiana Code 36-7-14-25.2, authorizing the execution of the proposed lease on behalf of the
City if it finds that the service to be provided throughout the term of the proposed lease will
serve the public purpose of the City and is in the best interests of its residents and the lease rental
provided for is fair and reasonable;
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Redevelopment
Commission, as follows:
1. The Commission hereby approves the preliminary plans, specifications and cost
estimates which have been filed with the Commission.
2. The Commission hereby schedules the public hearing on the lease to be held on
Tuesday, May 16, 2006, at 7:00 p.m. (local time), in.the Caucus Room on the second floor of
City Hall, One Civic Square, Cannel, Indiana.
3. The Commission preliminarily approves the form of the proposed lease attached
hereto as Exhibit B, the final approval of which shall be subject to the public hearing of the
Commission to be held on May 16, 2006, and to the Commission's findings thereafter.
4. The Commission hereby authorizes the publication of a notice of public hearing
on the lease pursuant to Indiana Code 5-3-1.
5. This Resolution shall be. in full force and effect after its adoption by the
Commission.
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ADOPTED AND APPROVED at a meeting of the Commission held on the.18th day of
April, 2006.
CITY OF CARMEL
REDEVELOPMENT COMMISSION
_;
P fer sident
W
Vice President
Secretary
n
Co is ner
Commissioner
ATTEST:
Prepared by:
David A. Arrensen, Esq.
Baker R Daniels LLP
April 18, 2006
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